Back from the brink: The recovery of the FPSO market
The FPS market has not been immune from the impact of the downturn, suffering from a very low number of newbuild orders while waiting for commerciality of projects to improve. After a particularly gloomy year in 2016, the FPS market started to show signs of improvement as soon as 2017, as nine contracts for FPSOs were awarded, including new deployments and redeployments. The upward trend followed in 2018 and 2019.
Our Field Development Analyst Sophie Dear will look at how contractors have reacted to the downturn and will examine future opportunities for the FPS market.